Paragraph 25 I1I2

Schedule 18 (power to restrict charges or impose requirements in relation to schemes) is amended as follows.

In paragraph 1(1) (power to restrict charges), in each of paragraphs (a) and (b), for “a member” substitute “ members ”.

In paragraph 4 (interpretation), after sub-paragraph (2) insert—

“(3)

Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 1 of the Pension Schemes Act 2021 (see section 1(2)(b) of that Act) is to be treated for the purposes of this Schedule as a separate scheme.”